Business

$7.6 Million Investment in Bluedrop to Develop Innovative Training
for Aerospace and Defence Sectors Announced Today in Halifax

ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--Today, the Honourable Scott Brison, President of the Treasury Board, on
behalf of the Honourable Navdeep Bains, Minister of Innovation, Science
and Economic Development, announced a repayable investment of $7.6
million to support a $19.0 million project by Bluedrop
Performance Learning Inc. (“Bluedrop”) (TSXV-V:BPLI),
a company that provides simulation technology, simulators and training
programs to the aerospace and defence sectors.

“Bluedrop welcomes this support from the Government of Canada through
the Strategic
Innovation Fund, as we look to further enhance our
competitive position through the development of next generation training
solutions”

The Government of Canada is maintaining and creating well-paying
middle-class jobs, economic growth and long-term prosperity by investing
in the growth of small businesses to promote innovation and global
competitiveness.

The funding to support research and development will help Bluedrop
create or maintain more than 200 jobs by supporting the design and
development of next generation aerospace and marine simulation and
training products. The project will adapt gaming and mobile technologies
such as virtual reality and augmented reality to improve the use of
artificial intelligence to develop new simulation and training products
used by air and marine crews.

This investment will lead to training that is more relevant, more cost
effective and that improves safety for air and marine crews.

This investment is made possible through the Strategic
Innovation Fund, a program designed to attract and support
high-quality business investments across all sectors of the economy, by
encouraging research and development that will accelerate technology
transfer and commercialization of innovative products, processes and
services and facilitate the growth of innovative firms.

Quotes

“Our government is investing to help small businesses across Canada grow
and be active players in innovative sectors of the economy. This
investment in Bluedrop’s innovative simulation and training technologies
will support the creation of middle-class jobs in Atlantic Canada and
foster a vibrant regional economy. This investment is a concrete example
of our government’s ambitious agenda to strengthen the middle class,
create jobs, and ensure a prosperous and inclusive future for Canadians.”–
The Honourable Scott Brison, President of the Treasury Board

“Bluedrop welcomes this support from the Government of Canada through
the Strategic
Innovation Fund, as we look to further enhance our
competitive position through the development of next generation training
solutions”– Derrick Rowe, Executive Chairman of the Board of
Bluedrop

In addition to the Strategic
Innovation Fund, there are hundreds of programs and
services to help businesses innovate, create jobs and grow Canada’s
economy. With a simple, story-based user interface, the new Innovation
Canada Platform can match businesses with the most fitting
programs and services in about two minutes.

Follow Innovation, Science and Economic Development Canada on Twitter: @ISED_CA

This news release may contain "forward-looking information" as
defined in applicable Canadian securities legislation. All statements,
other than statements of historical fact included in this release,
constitute forward-looking information that involve various risks and
uncertainties. Forward-looking information is based on a number of
factors and assumptions which have been used to develop such information
but which may prove to be incorrect, including, but not limited to,
assumptions in connection with the operational efficiencies associated
with the integration of technological and financial systems and general
economic and market conditions. There can be no assurance that such
information will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
forward-looking information.

Important factors that could cause actual results to differ
materially from Bluedrop’s expectations include general global economic
conditions. For additional information with respect to risk factors
applicable to Bluedrop, reference should be made to Bluedrop's
continuous disclosure materials filed from time to time with securities
regulators, including, but not limited to, Bluedrop's Annual Information
Form and Management’s Discussion and Analysis of Results of Operations
and Financial Condition for the year ended September 30, 2017. The
forward-looking information contained in this release is made as of the
date of this release and Bluedrop does not undertake to update publicly
or revise the forward-looking information contained in this release,
whether as a result of new information, future events or otherwise,
except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.